| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Gold Bullion “Boosted by Central Bank Hopes”, ECB “Completely in Line with Euro Leaders” says Merkel
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
goldnews.bullionvault.com / By Ben Traynor / August 17, 2012
EARLIER REPORT
Gold Bullion prices hovered just below $1620 per ounce during Friday morning’s London trading, very slightly below where they ended last week, while stock markets also gained, amid renewed speculation over central bank stimulus measures.
Silver Bullion traded around $28.30 per ounce, slightly up on where it started the week, while other commodities were also broadly flat.
The volume of Gold Bullion held by the world’s biggest Gold ETF, the SPDR Gold Trust (GLD), rose to a one-month high of 1263.6 tonnes Thursday, a day which saw gold continue its recovery from Wednesday’s lows.
“Hopes that central banks will launch more bullion-friendly stimulus measures boosted the yellow metal [on Thursday],” says a note from Swiss refiner MKS.
On the currency markets, the Euro managed to hold its ground against the Dollar this morning after rallying above $1.23 yesterday, following comments from German chancellor Angela Merkel that appeared to endorse the position of European Central bank chief Mario Draghi.
Last month, Draghi said that the ECB would do “whatever it takes to preserve the Euro”, comments that were followed immediately by rallies in stocks, precious metals and the single currency itself.
“What he said is something we repeated time and again since the beginning of the Greek difficulties more than two years ago,” Merkel said yesterday, speaking during a visit to Canada.
“We feel committed to do everything we can to maintain the common currency. The European Central Bank, although it is of course independent, is completely in line with what we have said all along.”
Thanks to BrotherJohnF
2012-08-17 11:42:28
Source:
